ASSISTANT COMMERCIAL TAXES OFFICER, WARD-II, CIRCLE-H, JAIPUR Vs. JEEVAN JYOTI WIRES AND CABLES, 194-B, JHOTWARA INDUSTRIAL

JUDGEMENT

(1.) Heard finally.

(2.) Instant petition is directed against the order dt. 21.11.2005 Passed by the Rajasthan Tax Board, Ajmer. It relates to the assessment year 1998-99.

(3.) The brief facts noticed are that on 02.01.1999 a survey came to be conducted at the business premises of the respondentassessee and at that time, spot verification of the stock was taken and it was noticed that as per the stock register, the opening stock stood at 53,996 Kg. of Mustard Oil whereas, on physical verification of the stock, it revealed that it is 60,171 Kg. of Mustard Oil. It was also noticed that on 02.01.1999, there was no purchase/receipts from anyone and thus, stock to the tune of 6175 Kg. was found in excess and taking note of the fact that it was not entered into the books of account, a notice u/Sec. 77(6) of the RST Act was issued and in the presence of two witnesses, the excess stock was attached and a notice u/Sec. 77(8) of the Act was issued for furnishing reply on 16.01.1999 as to why on the excess stock of 6175 Kg, penalty may not be imposed. However, the assessee on the spot gave reply, did not offer any explanation and contended that he does not want any further date to be given and requested that order may be passed on the spot and he does not want to offer further explanation and whatever penalty is leviable, he is ready to deposit the same on the spot and taking into consideration the aforesaid, the Assessing Officer imposed penalty u/Sec.77(8) of the Act.